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Current Attempt in Progress Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities $1.00 0.70 0.40 Fixed overhead costs per month are Supervision $4,000, Depreciation $1,200, and Property Taxes $800. The company believes it will normally operate in a range of 7,000-10,000 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Variable Costs Indirect labor $8,800 Indirect materials 5,800 Utilities Fixed Costs Supervision Depreciation 3,200 Property taxes $4,000 1.200 800 (a) Prepare a flexible budget performance report, assuming that the company worked 9,000 direct labor hours during the month. (List variable costs before fixed corte)

Current Attempt in Progress Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities $1.00 0.70 0.40 Fixed overhead costs per month are Supervision $4,000, Depreciation $1,200, and Property Taxes $800. The company believes it will normally operate in a range of 7,000-10,000 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Variable Costs Indirect labor $8,800 Indirect materials 5,800 Utilities Fixed Costs Supervision Depreciation 3,200 Property taxes $4,000 1.200 800 (a) Prepare a flexible budget performance report, assuming that the company worked 9,000 direct labor hours during the month. (List variable costs before fixed corte)

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter9: Evaluating Variances From Standard Costs
Section: Chapter Questions
Problem 3E: Salisbury Bottle Company manufactures plastic two-liter bottles for the beverage industry. The cost...
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B K Current Attempt in Progress Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities Variable Costs Fixed overhead costs per month are Supervision $4,000, Depreciation $1,200, and Property Taxes $800. The company believes it will normally operate in a range of 7,000-10,000 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Indirect labor Indirect materials Utilities $1.00 0.70 0.40 $8,800 Save for Later 5,800 3,200 eTextbook and Media $ $ Fixed Costs Supervision Depreciation (a) Prepare a flexible budget performance report, assuming that the company worked 9,000 direct labor hours during the month. (List variable costs before fixed costs.) $ Property taxes Budget $4,000 1,200 Budget 800 MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2020 $ $ (b) Prepare a flexible budget performance report, assuming that the company worked 8,500 direct labor hours during the month. (List variable costs before fixed costs.) Actual Costs $ $ $ MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2020 $ Actual Costs $ Differen Favorab Unfavora Neither Fav nor Unfavo $ Differen Favorab Unfavora Neither Fav nor Unfavo
Transcribed Image Text:B K Current Attempt in Progress Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows. Indirect labor Indirect materials Utilities Variable Costs Fixed overhead costs per month are Supervision $4,000, Depreciation $1,200, and Property Taxes $800. The company believes it will normally operate in a range of 7,000-10,000 direct labor hours per month. Assume that in July 2020, Myers Company incurs the following manufacturing overhead costs. Indirect labor Indirect materials Utilities $1.00 0.70 0.40 $8,800 Save for Later 5,800 3,200 eTextbook and Media $ $ Fixed Costs Supervision Depreciation (a) Prepare a flexible budget performance report, assuming that the company worked 9,000 direct labor hours during the month. (List variable costs before fixed costs.) $ Property taxes Budget $4,000 1,200 Budget 800 MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2020 $ $ (b) Prepare a flexible budget performance report, assuming that the company worked 8,500 direct labor hours during the month. (List variable costs before fixed costs.) Actual Costs $ $ $ MYERS COMPANY Manufacturing Overhead Flexible Budget Report For the Month Ended July 31, 2020 $ Actual Costs $ Differen Favorab Unfavora Neither Fav nor Unfavo $ Differen Favorab Unfavora Neither Fav nor Unfavo
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